In a filing to BSE today, the company said it will seek shareholders' approval through postal ballots for "re-deployment of Rs 330 crore received as refund from shipyards which were originally part of the proceeds of the further public offer".

Ajay Jain of astromoneyguru is of the view that 2017 is expected to be dedicated for oil & gas, shipping and offshore stocks in Global capital market. While short term traders may be careful in banking, stocks in 2017.